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Murrey Math Line X

Murrey Math Line X MetaTrader indicator  a pivot
line indicator that will definitely help every trader that know how to trade
with support, resistance and pivot lines. It displays 8 different lines (with
possible additional lines) on the main chart, helping you to find the best
points to sell, buy and exit the positions. You can download this indicator for
MT4 and MT5 platforms.

Input parameters:

P (default = 64)  period in bars or in other periods
(set by MMPeriod), on which the lines will be calculated. The lower is the
number the more current but less accurate calculations will be.

MMPeriod (default = 1440)  a basic period in minutes
(60  for hourly pivots, 1440  for daily pivots,
10080  for weekly and 43200  for monthly); if greater
than zero, indicator will use P amount of MMPeriod minutes to calculate its
lines. If zero, indicator will use P amount of the current chart bars to
calculate its lines.

StepBack (default = 0)  a shift back for calculating
the lines (in the current bars or in number of MMPeriod (if set) minutes).

Other parameters  affect only visual parameters of
the lines.

It's easy to use Murrey Math Line X. 0/8P and 8/8P lines are the ultimate
resistance and support lines  they are very hard to break. 1/8P and
7/8P lines are weak support and resistance lines, but if the price stopped near
them, it will reverse and change direction. 2/8P and 6/8P lines are strong
reverse points. 3/8P and 5/8P are the bottom and the top of the average trading
range respectively; it is very likely that the price will either pierce this
range fast or will remain inside it for a long time. 4/8P is a major support
and resistance line; sell and buy when the price crosses it for a certain
profit. The blue arrow marks the final calculated bar.